Erisco Foods CEO Slams Nigerian Gov’t On Importation

Chief Executive Officer of Erisco Foods, Eric Umeofia, has alleged that Ministries, Departments and Agencies under the Nigerian government antagonise the coountry’s future.

Umeofia, whose company produces tomato paste, curry powder, and season cubes, among others, said they don’t actually support economic expansion or diversification, as there’s nothing to write home about the country’s economic policy managers. 

The Erisco boss explained that the Nigerian government wishes and talks about growth of businesses operating in the country, but their actions don’t show it. 

“Generally, the Nigerian business situation is nothing to write home about because our economic managers, particularly the MDAs, from federal to state institutions, don’t actually support economic expansion or diversification,” he said in a report by Punch on Monday. 

Umeofia stated that “They wish and want it verbally, but practically I don’t see anything they are doing that aligns with what they are supposed to be doing. 

“I want to say that they antagonise the future of our country. They don’t want to listen and learn from other countries that have succeeded.” 

The businessman criticised the government for not supporting businesses but wants the country’s foreign reserves to grow and hopes for improvement in gross domestic product (GDP). 

“They want foreign exchange to be available. They want everything in Nigeria’s economy to be moving well. They want our money to gain ground without doing anything to support all of this,” the reported quoted him.

Erisco Foods: Nigerian government killing local manufacturers’ businesses?

Umeofia also condemned the preferential treatment given to the importation businesses, while showing less concern towards indigenous manufacturers. 

He explained that more than 90 per cent of goods sold in Nigeria today are imported because the Nigerian system does not recognise manufacturing or manufacturers.

“They are instead supporting importation and consumption because if you allow Nigerians to import air, they will imported air but the economic managers ought to have known how to support indigenous manufacturing than the importation which they are currently supporting. 

“In every aspect of Nigeria’s economy today, the system is supporting importation and foreign goods. More than 90 per cent of goods sold in Nigeria today are imported. 

“Why are they coming in? It is Nigerian money they use. It comes through Nigerian borders and it is in the Nigerian market. It is not hidden information. 

“So, if you continue to come and tell me or any other person that we need to diversify the economy, we need to export; what are we exporting? I call it drama because the system does not recognise manufacturing and or manufacturers. 

“They do not want to recognise us and that is why we are where we are today. The only way to help and support the economy is to buy made-in-Nigeria goods,” the Erisco Foods CEO said.